Michael Saylor Sees Next Bitcoin Bull Market Beginning as Strategy Reports $19.5B in Q3 Net Income

Strategy's Bitcoin stash grew 26% during 2026, despite recording a negative 3.7% BTC Yield. Strategy posted net income of $19.53 billion in the third quarter of 2026, a sharp jump from $2.79 billion a year earlier. The surge came largely from a $20.91 billion gain on its Bitcoin holdings, which pushed operating income to a record high. The company’s revenue, however, moved in the opposite direction and slipped 3% year over year to $125.4 million from $128.7 million. Gross profit was $89.6 million, with a gross margin of 71%, slightly below the $90.7 million reported a year earlier, when the margin was 70%. BTC Yield Turns Negative Strategy held 848,517 bitcoin as of October 25, with a market value of $68.9 billion against an original cost basis of $64.02 billion. Its average purchase price stood at approximately $75,446 per bitcoin. The company purchased $14.33 billion worth of BTC year-to-date and increased its holdings by 26% during 2026. But Strategy’s BTC Yield stood at negative 3.7%. Despite this, Michael Saylor, founder and executive chairman of the company, said that “we’re at the beginning of the next bull market.” He went on to add, “Banks are embracing Bitcoin, Bitcoin’s ...